Analysts Predict 35% OP Increase at Conti - Tire Review Magazine

Analysts Predict 35% OP Increase at Conti

(Clacton, U.K./Tyres & Accessories) Deutsche Bank analysts are predicting that Continental’s operating profit will increase by as much as 35 per cent in the company’s fourth quarter results.

They expect sales to reach 3,610 million euros, up 4.5 per cent on the same period last year. Deutsche Bank predicts profits will peak at 431 million euros, up 35 per cent against the market consensus of 390 million euros. This is put down to the reduction of exceptional charges levelled at the company – last year this reached 100 million euros in the fourth quarter.

Meanwhile, Credit Suisse has lifted Continental’s target price to 100 euros from 90 euros, based on an earnings preview. Continental reportedly says it expects to continue to beat expectations. Credit Suisse recommended investors stick with “quality names” such as Conti, given the tough auto environment and significant raw material headwinds. The analysts reiterated their ‘outperform’ rating.

You May Also Like

Goodyear Announces Cost Savings Actions

Goodyear said its Q4 results fell short of expectations given a significantly weaker industry backdrop.

Goodyear-HQ-Akron-Innovation-Center

The Goodyear Tire & Rubber Company announced cost savings actions in response to a challenging industry environment and cost pressure driven by inflation. Planned rationalization and workforce reorganization would result in an approximately 5% reduction in salaried staff globally or about 500 positions, the company said.

“Our fourth quarter results fell short of our expectations given a significantly weaker industry backdrop, particularly in Europe,” said Richard J. Kramer, chairman, chief executive officer and president. “While our businesses have performed at a high level through the volatility of the past several years, the uncertain near-term macroeconomic outlook and continuing impacts of inflation make these difficult actions necessary to position our business for future success.”

Hankook Tire Signs Multi-Year Partnership with Lamborghini

Hankook Tire will be the exclusive tire and technical partner for the 2023 Lamborghini Super Trofeo series.

Bridgestone Provides A/T, Winter Tires for Lamborghini Huracán Sterrato

Bridgestone said the tire is the world’s first-ever supercar all-terrain tire to feature run-flat technology.

Bridgestone-lambo-fitment
Complete Tire Repair Packages Build Customer Trust

Tire dealers know that offering a complete lineup of tire services can keep customers from seeking repairs elsewhere and add to the bottom line.

Off-Road Racer Jim Horne Joins Team Hercules

As a member of Team Hercules, Jim Horne will represent the brand as ambassadors at competitions and dealer and consumer events.

Other Posts

Maxam Tire Adds Two Sizes to MS405 Series

The Maxam MS405’s new sizes fit for loaders and dump trucks provide the OTR industry with more options.

Firestone Airide Tennessee Plant Recognized for Safety

This is the facility’s fourth STAR award, reflecting the company’s and
teammates’ commitment to a safe and healthy work environment.

Atturo Tire Offers Trail Hazard Protection for SXS and UTV Tires

The new program covers hazards encountered by riders on- and off-road at no additional charge.

Top Shops: Opportunities & Challenges in Today’s Tire Industry

What is one thing that scares you and one thing that excites you about the tire industry?

Tire Review Top Shop 2023 opportunities